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AMC Corporation currently has an enterprise value (EV) of $310 million and $125 million in excess cash. The firm has 30 million shares outstanding and

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AMC Corporation currently has an enterprise value (EV) of $310 million and $125 million in excess cash. The firm has 30 million shares outstanding and no debt. Suppose AMC uses its excess cash to repurchase shares. After the share repurchase, news will come out that will change AMC's enterprise value to either $510 million or $110 million. What would AMC's share price be after the repurchase if its enterprise value goes up? What would AMC's share price be after the repurchase if its enterprise value declines? AMC's share price after the repurchase if its enterprise value goes up is $ (Round to two decimal places.)

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